Market Report - June 09
PALM BEACH GARDENS HOME SALES AND PRICES INCREASE IN APRIL: BOTTOM COULD BE NEAR
Palm Beach Gardens and Palm Beach County home prices and the number of home sales increased slightly in April according to statistics released today by the Florida Association of Realtors.
'The median single family home price in Palm Beach County increased about 2.5 percent in April compared to March. This marked the first time in nearly a year that the area saw a slight uptick in housing prices. And the small increase came on the tail of the median home price remaining the same for February and March.
In April the median price for a single family home in Palm Beach County was $234,400, about the same as it was in the spring of 2003. The median price reflects half of the homes sold for a higher amount and half sold for a lower amount.
The median price for a condo in Palm Beach County in April was $98,200, about the same as it was in March. But the number of sales increased from 691 in March to 735 in April.
It will take statistics from several more months to determine whether home prices in Palm Beach Gardens, West Palm Beach, North Palm Beach, Juno Beach, Jupiter and all of Palm Beach County have truly reached bottom. There are still thousands of homes on the market in our area with significant numbers of foreclosures and short sales. But homes are moving and savvy buyers can pick up wonderful deals.
An examination of the real estate market in Palm Beach Gardens country club communities reveals prices not seen in more than five years, plus some homes priced lower than the owner paid to the builder. With the season over in Palm Beach Gardens and throughout south Florida, sellers are now lowering their prices hoping to attract interested buyers.
The Weiss-Clawson Team researches homes prices throughout Palm Beach Gardens and Palm Beach County to provide the most up to date information to our buyers and sellers. Please contact The Weiss-Clawson Team directly for further real estate market information about communities in Palm Beach County.
